You would like to provide financial management consulting services for a small fee to the eighty recent graduates of your hometown high school. You therefore would like to know how much the graduates have in their savings account. Suppose you were able to collect the information for the whole population. But, out of curiosity, you decide to find out how much your sampling error might have been had you surveyed a simple random sample of 16 graduates. Show how you would do this in Excel.

Graduate	Savings acct balance ($)
1	75.30
2	748.23
3	530.40
4	2,995.38
5	123.65
6	309.00
7	40.70
8	402.81
9	489.97
10	533.82
11	85.92
12	214.62
13	123.66
14	659.18
15	1,509.34
16	1,052.68
17	421.46
18	180.58
19	874.78
20	269.48
21	614.11
22	21.20
23	378.37
24	1,069.06
25	68.92
26	163.31
27	161.12
28	157.44
29	468.12
30	1,801.35
31	91.43
32	10.62
33	76.33
34	101.24
35	1,599.04
36	596.33
37	1,799.51
38	98.82
39	2,761.93
40	456.79
41	696.34
42	99.79
43	596.14
44	929.80
45	192.35
46	71.75
47	459.38
48	41.81
49	400.57
50	1,666.50
51	193.14
52	582.18
53	291.73
54	1,740.47
55	358.62
56	100.54
57	581.21
58	358.68
59	750.44
60	216.81
61	572.08
62	1,233.38
63	239.65
64	259.98
65	754.45
66	904.92
67	171.48
68	87.08
69	319.40
70	37.16
71	106.95
72	39.65
73	398.48
74	322.26
75	492.05
76	1,288.70
77	571.63
78	38.93
79	376.60
80	305.49

Answer rating: 100% (QA)

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